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Nov 29, 2012
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ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market debt. these monetary authorities are done tightening. they fought the inflationary problem that they had successfully. they're in hoed. yield curves could shift down. we stress doing it in local currency. the other areas are u.s. high yield, which i still think is valuable. we do think spreads will contract and emerging market equities as well. >> jordan, what about you? how are you preparing for what could be an eventuality where we go over the cliff and we've got to deal with higher taxes and a slower economy? a lot of people expecting reces
ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market...
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Dec 26, 2012
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talk about the fiscal cliff and politicians talk about the fiscal cliff. we're wondering whether mom and pops at home talk about the fiscal cliff. is a lack of a budget deal actually spooking shoppers out on main street? >> it is. walmart told us 75% of their customers have cite that had they are worried about the fiscal cliff. mandy, you and i were on last week talking about the luxury retailers and we called out saks saying business pre-holiday was particularly weak. what are the people in the stores telling me all week, saying that this is the worst pre-christmas they had seen in over a decade, and part of that was because their consumers are worried about the fiscal cliff, so note to the government. it does matter. >> yeah, but that's, as you say, part of it. laura, what else is going on? it just felt like we were going into a lackluster season here. what happened? >> i mean, there's been some discussion about weather trends as well, but whether or not we go over the fiscal cliff, consumers think next year we'll see higher taxes and lower entitlements.
talk about the fiscal cliff and politicians talk about the fiscal cliff. we're wondering whether mom and pops at home talk about the fiscal cliff. is a lack of a budget deal actually spooking shoppers out on main street? >> it is. walmart told us 75% of their customers have cite that had they are worried about the fiscal cliff. mandy, you and i were on last week talking about the luxury retailers and we called out saks saying business pre-holiday was particularly weak. what are the people...
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Dec 26, 2012
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that is the same day that we would go over the fiscal cliff. now the treasury has certain steps they can take to avoid breaching the debt ceiling that will carry the government through february or march, but at the moment in a technical sense treasury secretary geithner is telling the congress we're hitting the debt ceiling at the end of this year which is the part of the, as i mentioned, part of an effort to get congress to step in and act, not only on the fiscal cliff but on the debt ceiling, bill. >> thanks very much for the breaking news. we'll keep monitoring the situation. thanks, john harwood. a look now at financial sector and whether or not you should put your money in the banks. >> 12 months ago there was a lot of buzz about the regionals, but now it's the big banks that have done really, really well. we have the president and ceo at bell rock capital and jeffrey hart. welcome back. >> cassandra, how did we get that wrong, those saying was not a good environment for about the banks, 2012, low interest rates, you know, the low loan dem
that is the same day that we would go over the fiscal cliff. now the treasury has certain steps they can take to avoid breaching the debt ceiling that will carry the government through february or march, but at the moment in a technical sense treasury secretary geithner is telling the congress we're hitting the debt ceiling at the end of this year which is the part of the, as i mentioned, part of an effort to get congress to step in and act, not only on the fiscal cliff but on the debt ceiling,...
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Dec 26, 2012
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is set to go over the fiscal cliff in five days. that means taxes will go up for nearly every american. dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us. >> we'll start with a brief check on the markets. energy and metals are trading higher now, wtis up about 55 cents. brent crude up 65 cents. also want to check in on the gold price, as well. gold right now down about slightly under the flat line there, 1,-658. well below the 1,700 mark. the cme globex has been closed for christmas. it's going to reopen at 6:00 a.m. eastern time. that goes for treasuries and the foreign exchange market, as well. >> as for action in the ov
is set to go over the fiscal cliff in five days. that means taxes will go up for nearly every american. dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside...
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Dec 6, 2012
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we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it needs efforts. let's make them short for a better future. i think we should be ready as a corporation, being ready for maybe a year of difficult market, difficult situation in the market because that is a ceiling on our growth in terms of economical growth as to be released. it's really me an investment for the future. >> you're seeing a similar situation in france where we're talking about the possibility of capital gains taxes and dividend taxes going much higher. what will that do to the investor class, to the entrepreneurialism that we're seeing
we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it...
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Nov 19, 2012
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part of the reason they're doing it is because fiscal cliff or no fiscal cliff, taxes are going up next year. >> even since you didn't ask, i say yes also, it is a big problem. >>> let's move on to the twinkie. our yahoo! finance question of the day -- what went wrong at hostess? look at the results. corporate management gets the blame. union problems, 3 out of 5 say that was the problem there with the twinkies. the american anti-fat kick. 9%. they make an outdated product, 12%. what went wrong? >> what happened is that the demand for the product went way down but they couldn't make the kind of concessions on costs meaning labor costs that they needed to. when the demand for your product is falling, you need to cut back. the labor unions weren't flexible to let them really do it. what we ended up with was a morass. if the unions had been more flexible, we could still buy twinkie gate. >> someone donated an autographed painting by salvador dali. instead of selling it on the floor. goodwill is auction is it off. bid something up over $18,000. >> i love anything with a melted clock and lot
part of the reason they're doing it is because fiscal cliff or no fiscal cliff, taxes are going up next year. >> even since you didn't ask, i say yes also, it is a big problem. >>> let's move on to the twinkie. our yahoo! finance question of the day -- what went wrong at hostess? look at the results. corporate management gets the blame. union problems, 3 out of 5 say that was the problem there with the twinkies. the american anti-fat kick. 9%. they make an outdated product, 12%....
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Dec 3, 2012
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more now on the fiscal cliff. one of the industries with the most at stake in the budget debate is the defense industry. in a meeting today in washington, northrop grumman ceo wes bush with a dire warning. >> it would result in across the board cuts to both defense and nondefense accounts. and the interesting thing about this is the cuts are not tied to any military strategy whatsoever. it is completely disconnected from a perspective of strategy. in essence these would be meat axe taken to our national defense budgets. >> let's go straight to the front lines of the issue. task specializes in systems, engineering and integrate. president and ceo david langstaff is with us, among the defense contractors speaking out today in washington. he joins me now on the telephone. sir, good to have on you the program. thanks for joining us. >> thank you. glad to be with you. >> what's the potential fallout for task if we go over the fiscal cliff. how would you navigate this? >> first, it's just terrible policy to go over the
more now on the fiscal cliff. one of the industries with the most at stake in the budget debate is the defense industry. in a meeting today in washington, northrop grumman ceo wes bush with a dire warning. >> it would result in across the board cuts to both defense and nondefense accounts. and the interesting thing about this is the cuts are not tied to any military strategy whatsoever. it is completely disconnected from a perspective of strategy. in essence these would be meat axe taken...
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Nov 6, 2012
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you still have the fiscal cliff coming up. you still have to get clarity on health care, on taxes, on regulations. are we going to get it? we're going to need the senate and the congress at the same time. but companies aren't going to hire until we get clarity on those four issues. so emotionally, people would think, well, if mitt becomes president, maybe we'll get clarity. if president obama stays in office, well, then, we'll have gridlock for the next four years so don't move your money. >> paul, how do you see it? how do you want to invest knowing what we know today? >> i think tomorrow's a telling reaction. if we're looking in the short term, i think the move we have tomorrow and on thursday probably continues through the next week or two. i do believe that i'll be counter to most in our field. i think if romney wins, and i've got my red elephant tie on, but i think if romney wins, we're going to see a 2% to 5% selloff by thanksgiving. i think if president obama's re-elected, we're going to have a much stronger rally in th
you still have the fiscal cliff coming up. you still have to get clarity on health care, on taxes, on regulations. are we going to get it? we're going to need the senate and the congress at the same time. but companies aren't going to hire until we get clarity on those four issues. so emotionally, people would think, well, if mitt becomes president, maybe we'll get clarity. if president obama stays in office, well, then, we'll have gridlock for the next four years so don't move your money....
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Nov 27, 2012
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who's right on the fiscal cliff right now? >> well, i think that -- >> steven gilfoil. >> the consumer isn't paying that much attention to this. the regular american doesn't watch the financial news. he isn't reading the kinds of papers we read. and he's less concerned with this. >> should they be? >> they probably should be, but investors are more concerned with corporate news, with macroeconomic news. the senator made a statement today. you would expect some kind of posturing this week. we're still 30 days out or so. they don't really have to cut a deal yet. they have to look like they're fighting for what they want to fight for, yet please the constituents. they're probably going to put that off for a couple weeks. >> it's the other way around. washington should be paying attention to the consumer and realize how much is the stake here. when you look at the consumer confidence levels able to hold up. when you look at the retail sales numbers pensimentioned by and the idea we've stabilized when it comes to capital spending,
who's right on the fiscal cliff right now? >> well, i think that -- >> steven gilfoil. >> the consumer isn't paying that much attention to this. the regular american doesn't watch the financial news. he isn't reading the kinds of papers we read. and he's less concerned with this. >> should they be? >> they probably should be, but investors are more concerned with corporate news, with macroeconomic news. the senator made a statement today. you would expect some kind...
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Nov 14, 2012
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this is why it's the fiscal cliff. they have to put a law in place so that this doesn't happen. >> the most important thing right now, maria, this is a time for leadership. leaders don't set ultimatums. leaders bring together different parties who may have their own ultimatums and find compromise. that's what we're all counting on from the white house. we're counting on that leadership to step forward, make a difference, bring the parties together, and find a compromise. >> all right. you running charles schwab with tens of thousands of investors, as a you just said. you've got to operate your business regardless of what's going on around you. talk to us how you're doing that. are you sitting on the sidelines in terms of pufting money to work, in terms of hiring? what are you going to do knowing you have no idea where your tax rates will be? you have no idea wlosht those spending programs are going to be taken away as well. that will create layoffs. >> yes. well, i think in our business we're been fortunate in that we'
this is why it's the fiscal cliff. they have to put a law in place so that this doesn't happen. >> the most important thing right now, maria, this is a time for leadership. leaders don't set ultimatums. leaders bring together different parties who may have their own ultimatums and find compromise. that's what we're all counting on from the white house. we're counting on that leadership to step forward, make a difference, bring the parties together, and find a compromise. >> all...
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Dec 10, 2012
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>>> the clock is running out on the fiscal cliff. i'll talk to the former cabinet secretary who says going over the cliff is better than getting a bad deal. >>> the auto industry is back. what it's doing right in a soft economy? we'll find out what's driving profitability. >>> curtain's up on the billion dollar woman who made the lion roar, julie taymor. >> we never had a complaint about it. >> "the wall street journal report" begins right now. now, maria bartiromo. >> here's a look at what's making news. some surprisingly good news about america's economy. the labor department says 146,000 new jobs were created in the month of november. much better than economist's expectations. the unemployment rate dropped two tenth of a% at 7.7%. the labor department also says superstorm sandy had little effect on those numbers. >>> the markets continued their familiar pattern of following the latest word or words or hopes on fiscal cliff. no major moves during the week but several times the market ran out of steam to the end of the trading sessi
>>> the clock is running out on the fiscal cliff. i'll talk to the former cabinet secretary who says going over the cliff is better than getting a bad deal. >>> the auto industry is back. what it's doing right in a soft economy? we'll find out what's driving profitability. >>> curtain's up on the billion dollar woman who made the lion roar, julie taymor. >> we never had a complaint about it. >> "the wall street journal report" begins right now....
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Dec 6, 2012
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fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming in less than a month. you would think investors saying their concerns would be running for the hills or at least buying portfolio protection to protect themselves against potential disaster. we see the vix very low. they're not taking the type of defensive, decisive action. if we get a downgrade and if this happens, it will be terrible for the market. that's what's potentially on the market, if we don't make a deal in washington. >> scott, let me ask you again how you want to allocate capital then in that environment. i know george young is with us again, joining the conversation. i want to ask you the same question. go ahea
fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming in less than a month. you would think investors saying their concerns would be...
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Nov 14, 2012
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fiscal cliff, tax issues. everybody on the investor side of course trying to get around some of these potential tax hikes. remember, no matter what a lot of these nonpartisan groups say like office of budget and management or any of them in the real world taxes make people's behavior change. now, if you look at the currency side of the equation, the yen is the big trade everyone is discussing on this floor today. look at a 24-hour chart. the dollar is skyrocketing. what does it mean on the bigger picture a year-to-date chart of the dollar/yen reveals we're close to breakout on the dollar/yen. a big bright spot impacting dollar index. jim, back to you. >> thank you, rick. it's interesting to see a dollar versus yen versus fxe. let's check out latest news on energy and go to bertha coombs at the nimax. >> good morning, jim. a little bit of a weaker dollar helping out the energy complex though we're watching wti. we'll not get inventory numbers today because of the veterans day holiday. won't get those numbers un
fiscal cliff, tax issues. everybody on the investor side of course trying to get around some of these potential tax hikes. remember, no matter what a lot of these nonpartisan groups say like office of budget and management or any of them in the real world taxes make people's behavior change. now, if you look at the currency side of the equation, the yen is the big trade everyone is discussing on this floor today. look at a 24-hour chart. the dollar is skyrocketing. what does it mean on the...
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Nov 20, 2012
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cliff, the largest fiscal cliff, which according to cbo and to our own analysis would throw the economy into recession, i don't think the fed has the tools to offset that. that's why it is important for congress to address these fiscal issues soon. >> boom. that's where it was. you got that immediate market reaction. you were there. there was a reaction at the crowd too. >> everybody has agreed that was the one thing he said that was probably new information and market moving. and you saw the market move from down 17 on the dow to down 70 on the dow industrials pchl. >> just like that. how worried should investors be? let's find out on today's "closing bell" exchange. steve, are we making too much of this? you know, we know what kind of tools they have available. we know that monetary policy is often at odds with fiscal policy, right? >> with due respect, bill and maria, i think you are making too much of it. he said it before. i don't think there's been any expectation that given the size of the gdp hit that would come from the fiscal cliff, i would be surprised if the market really th
cliff, the largest fiscal cliff, which according to cbo and to our own analysis would throw the economy into recession, i don't think the fed has the tools to offset that. that's why it is important for congress to address these fiscal issues soon. >> boom. that's where it was. you got that immediate market reaction. you were there. there was a reaction at the crowd too. >> everybody has agreed that was the one thing he said that was probably new information and market moving. and...
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Dec 1, 2012
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cliff really a fiscal slope. if they come to a compromise the politicians in washington, both republicans and democrats are going to reduce the size of deficit reduction dramatically. my argument will be let's go right down that fiscal slope. let's raise the revenue and make the cuts that have to be made which nobody in washington is willing to make. and let's take a big bite out of the deficit and restore confidence to our markets. >> that's going to kill the economy. this is one of the things i agree with. >> it will not kill the economy. >> if you do those tax increases it will. >> i want to make sure. this is a little different point. i hear you on the fiscal cliff, howard. i appreciate respect of you as much as i may disagree. what's really at stake here, one of the things at stake here, steve moore, is the idea that changing taxes, for example raising tax rates on capital and dividend and private equity firms and individuals and small business, that that doesn't matter. and what i'm saying is, when you see
cliff really a fiscal slope. if they come to a compromise the politicians in washington, both republicans and democrats are going to reduce the size of deficit reduction dramatically. my argument will be let's go right down that fiscal slope. let's raise the revenue and make the cuts that have to be made which nobody in washington is willing to make. and let's take a big bite out of the deficit and restore confidence to our markets. >> that's going to kill the economy. this is one of the...
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Nov 28, 2012
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after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well, perfect question. look at the chart. here's a chart of today's treasury action against the equity market. indeed, other than around 1:00 eastern after the auction, they've been correlating. stocks go up, rates go up. stocks go down, rates go down. we're trading on pr. if the premise of this exchange is should we trade on headlines, if you're a day trader who understands once you make a trade and the air is gone out of the person you trade it with, that's the only realism that is there. pr doesn't move markets more than the short term. most of the people i
after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well, perfect...
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Dec 4, 2012
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we're going over the fiscal cliff. will that coupled with obamacare kicking in sent your hospital bills through the roof? i'll talk with the head of one of the biggest hospital groups in the city. stay with us. back if a moment. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that
we're going over the fiscal cliff. will that coupled with obamacare kicking in sent your hospital bills through the roof? i'll talk with the head of one of the biggest hospital groups in the city. stay with us. back if a moment. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our...
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Dec 31, 2012
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as we said, we are about to go over the fiscal cliff. if a deal is not reached to avoid the fiscal cli by january 2nd, automatic domestic and military spending cuts will kick in and the pentagon will be forced to cut $9 million in spending. >> if lawmakers can't avoid the fiscal cliff, they may be able to avoid a different cliff, the dairy cliff. house and senate members appear likely to extend farm legislation for a year, a deal that would keep milk prices skyrocketing in january. we were worried about $6 gallon of milk. it could keep a decades old subsidy from coming back to life. the usda would be forced to buy milk at prices well above what farmers were getting now if the subsidy was revived. it could double the price of moib to $6.12 a gallon. >> markets have been reacting to each move on capitol hill, but obviously, things at this point are looking like the dow would open down by about 7.5 points. the dow is off 67 points and the nasdaq is down 14.75 points. all the surprised given the late hour that -- >> even if something doesn't
as we said, we are about to go over the fiscal cliff. if a deal is not reached to avoid the fiscal cli by january 2nd, automatic domestic and military spending cuts will kick in and the pentagon will be forced to cut $9 million in spending. >> if lawmakers can't avoid the fiscal cliff, they may be able to avoid a different cliff, the dairy cliff. house and senate members appear likely to extend farm legislation for a year, a deal that would keep milk prices skyrocketing in january. we...
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Nov 27, 2012
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you have to do things now to get ready for the fiscal cliff. >> the fiscal cliff is coming. you are very well advised to take the lump sum today. even before you do that it is important that you think about your security. for my wealthy families i manage a family office so that would include our lottery winner. we practice a stealth strategy. lifestyle, transitioning and humanity which is charity. all of those things are important. the first thing you should do if you win tomorrow is to not tell anyone. you don't want people to know. >> i have pondered this question. a lot of states require that you show up. it is very difficult to stay secret because they want a lot of publicity. what happens is if you are poor and you have a lot of friends and family who are poor they come to you for money. >> you can have a day or two before you show it. the first thing i advise people to do is contact a very reptutable security firm. they are going to make sure that you are relocated to a safe place. if you are not a celebrity already. >> you said security firm i thought you meant securi
you have to do things now to get ready for the fiscal cliff. >> the fiscal cliff is coming. you are very well advised to take the lump sum today. even before you do that it is important that you think about your security. for my wealthy families i manage a family office so that would include our lottery winner. we practice a stealth strategy. lifestyle, transitioning and humanity which is charity. all of those things are important. the first thing you should do if you win tomorrow is to...
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Nov 13, 2012
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and how about the fiscal cliff? ceo duncan niederauer among the ceos in the fix the debt commission. he's later on the "closing bell." stay with us. i was downstairs making coffee, and we heard it. it just came crashing through the roof, out of nowhere. what is it? it's our ira. any idea what coulda caused this? maybe. i just sorta threw a little money here, a little money there. and i loaded up on something my dentist told me was hot. yeah. ♪ having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and my daughter loves the santa. oh, ah sir. that is a customer. let's not tell mom. [ male announcer ] break from the holiday stress. fedex office. >>> shares of activision a bit lower today despite the launch of what many believe will be the biggest video game of all time. namely "call of duty: black ops 2." julia boorstin is here with more. >> that's right. it's expected to be not only the biggest joid game of the holiday season but also the biggest video game of the entire year and
and how about the fiscal cliff? ceo duncan niederauer among the ceos in the fix the debt commission. he's later on the "closing bell." stay with us. i was downstairs making coffee, and we heard it. it just came crashing through the roof, out of nowhere. what is it? it's our ira. any idea what coulda caused this? maybe. i just sorta threw a little money here, a little money there. and i loaded up on something my dentist told me was hot. yeah. ♪ having you ship my gifts couldn't be...
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Nov 26, 2012
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on solving the fiscal cliff? >> everyone's talking about how can we get republicans to cave on tax increases? >> the reason we have an impending debt crisis is because we're spending more. raising taxes isn't going to deter the debt crisis coming down the pike. we need to focus on spending. we need to get president obama and senate democrats to say what spending they'll cut and how to change entitlement. >> did you hear what jay carney said in the last few minutes? he said social security, by the way, off the table. we're not going to discuss this while we do the fiscal cliff discussions. i mean, we're already there. raising taxes but not cutting spending. >> and that's exactly the point. >> social security is funded separately. it has it's own line item, it's a separate bill -- >> until the money runs out? then what do we do? >> that's not the point right now. >> it is. >> no, it's not. you won't solve those problems by going after the fiscal cliff. >> the only thing derailed is the conversation on what matters.
on solving the fiscal cliff? >> everyone's talking about how can we get republicans to cave on tax increases? >> the reason we have an impending debt crisis is because we're spending more. raising taxes isn't going to deter the debt crisis coming down the pike. we need to focus on spending. we need to get president obama and senate democrats to say what spending they'll cut and how to change entitlement. >> did you hear what jay carney said in the last few minutes? he said...
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and we've got this fiscal cliff, which will force action. i think they are pretty pitch saying the same thing. both of them are saying we have to have revenue. the president says, look, i want that revenue to be real. the only way i don't know fknow real for sure it to raise the tax rate. the speaker is saying there's a better way to do it. that's by reducing the spending in the tax code. i think he's probably willing to confine it to the top 2%. what we have to do is find that middle ground where we make sure so the president knows that we're going to get that money but we're going to get it in the most productive, economic way we can. >> the speaker's point is you don't want to be raising tax rates now at such a fragile time in the economy. we've already watched the stock market sell off, you know, 5% in the last week because of this uncertainty over where their tax rates are going. >> i am really worried that we won't get to a deal. i know we can get to a deal. i know how to get to the deal. we get there by taking some of the money from r
and we've got this fiscal cliff, which will force action. i think they are pretty pitch saying the same thing. both of them are saying we have to have revenue. the president says, look, i want that revenue to be real. the only way i don't know fknow real for sure it to raise the tax rate. the speaker is saying there's a better way to do it. that's by reducing the spending in the tax code. i think he's probably willing to confine it to the top 2%. what we have to do is find that middle ground...
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once we get some clarity on the fiscal cliff. you know, i think embedded in our view is the idea that we're not going to be falling off a fiscal cliff. that we're going to find some compromise. again, i'd just say that the corporate credit market is not showing as much distress about this as the equity markets are. >> i like that optimism, tom. i'll send you this pin that says, rise above. thanks for joining us. >> thanks for having me. >> i meant financials and energy. i didn't mean to throw coal at you. >> got it. okay. >>> let's check back with bertha. >> speaking of coal, that was actually a big part of that cnbc romney portfolio. they gained about 12% on average for the sector during his run, following his mentioning coal and his good performance in that first debate but, boy, they are getting hit hard today. alpha natural, peabody, they are off double percentages as they come off of the lows. michelle? >> let's trade this. does anybody see opportunity in these poll stocks today think this is overdone? >> i do. >> i don't li
once we get some clarity on the fiscal cliff. you know, i think embedded in our view is the idea that we're not going to be falling off a fiscal cliff. that we're going to find some compromise. again, i'd just say that the corporate credit market is not showing as much distress about this as the equity markets are. >> i like that optimism, tom. i'll send you this pin that says, rise above. thanks for joining us. >> thanks for having me. >> i meant financials and energy. i...
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on the fiscal cliff at this point. still. >> five days. >> you're not inclined to -- >> well, you know how i feel, though. i think it's crazy that here we are. they had 13 13 months to do this. now they have five days. these are all very important issues to america. >> ben, what do you make of this market? you're the hot handed trader right now. >> i'm still a buyer. you buy the dipts. if you want a protection, you had a great chance to buy the vix. >> because you think we're going to get a resolution? >> absolutely. >> what do you expect in terms of volume, in terms of this market? earlier, art cashin told us there were some stocks still to buy. >> it's a net imbalance to buy, but it's about $5 million in money rotation either side. but it's going to have an effect on every listed stock down here. expect a huge pop in volume that should add slightly to the bid on lifting this market late into the close. i would expect to see that. but, again, this is one of the days traders may live for. this is what traders live to s
on the fiscal cliff at this point. still. >> five days. >> you're not inclined to -- >> well, you know how i feel, though. i think it's crazy that here we are. they had 13 13 months to do this. now they have five days. these are all very important issues to america. >> ben, what do you make of this market? you're the hot handed trader right now. >> i'm still a buyer. you buy the dipts. if you want a protection, you had a great chance to buy the vix. >>...
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prior to fiscal cliff. some would argue that companies are already pulling back and that the impact of the fiscal cliff is being felt now prior to discussions in anticipation of it. is there a scenario in which there could be a rating cut and we don't actually go over that cliff? >> potentially there could be. the fiscal cliff is not the only issue that needs to be addressed. even if it's possible to avoid the forthcoming fiscal cliff, you also need to put in place a credible deficit reduction plan. there needs to be a grand bargain across both sides of the divide to address the deficit and provide some certainty over tax and spending policies going forward. if the fiscal cliff is avoided but there is no credible deficit reduction plan put in place. then the rating will come down during the course of 2013. >> david, is it clear to you, we have a frame work called simp n simpson-bowles as you know. we have added firepower of ceos making this a pet issue. does it matter if corporate america says we're behind
prior to fiscal cliff. some would argue that companies are already pulling back and that the impact of the fiscal cliff is being felt now prior to discussions in anticipation of it. is there a scenario in which there could be a rating cut and we don't actually go over that cliff? >> potentially there could be. the fiscal cliff is not the only issue that needs to be addressed. even if it's possible to avoid the forthcoming fiscal cliff, you also need to put in place a credible deficit...
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of the fiscal cliff on the markets. why? >> first of all, i don't think we'll go over the cliff. i think it's a lower probability we will not rather than we will. here's where i think you need to position a portfolio strategy. i don't think the market is priced in if we go over the cliff. what you need to do is be in risk assets, if this makes sense, more defense risk assets. dividend payers, technology, even overseas, emerging markets. china looks like it's finally starting to recover because the bottom line is, even if we don't go over the fiscal cliff, we'll still have a very, very slow growth environment for a period of time. you have to hedge both sides. don't get too optimistic but don't escape from the market completely because you could miss a rally up. >> mary, this dominates trading, doesn't it, the discussion about fiscal cliff? how much is it driving averages on every given day? >> it does. if you read the notes, you talk to traders, it's one of the first things they talk about every day. any headline you se
of the fiscal cliff on the markets. why? >> first of all, i don't think we'll go over the cliff. i think it's a lower probability we will not rather than we will. here's where i think you need to position a portfolio strategy. i don't think the market is priced in if we go over the cliff. what you need to do is be in risk assets, if this makes sense, more defense risk assets. dividend payers, technology, even overseas, emerging markets. china looks like it's finally starting to recover...
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one, going off the fiscal cliff. two, if we were to use the debt ceiling and push it too far instead of using it as a reminder we need to make changes but threatening too far so it disrupts markets, and, three, failing to put in place a major comprehensive debt deal, so are you seeing a tense negotiation around a lot of land mines basically that could be used as leverage, but if we push any of them too far we can really damage the country. and i think that's why we're all feeling nervous right now. we know this is an incredibly tense negotiation, the stakes are high and the politics of this is challenging, but there's a real danger by pushing any of these issues too far. we need to focus on bringing everybody to the table and focusing on issues that will fix the debt, structural reform, entitlement reform, reining in our spending, finding a bipartisan solution and getting a solution as quickly as possible so we don't have to threaten ourselves with things like cliffs, debt ceilings and defaults. >> i thought this was
one, going off the fiscal cliff. two, if we were to use the debt ceiling and push it too far instead of using it as a reminder we need to make changes but threatening too far so it disrupts markets, and, three, failing to put in place a major comprehensive debt deal, so are you seeing a tense negotiation around a lot of land mines basically that could be used as leverage, but if we push any of them too far we can really damage the country. and i think that's why we're all feeling nervous right...
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but they're being obscured by worries about the fiscal cliff. and that's why we're throwing our surprise party tonight here on "mad money" where i highlight companies that delivered upside surprises. but have been neglected, severely neglected. they've been overlooked. and they've actually seen their stocks go lower. and don't forget, i expect home depot, cisco, maybe even petsmart in a couple days to go lower because of how horrible this market is. the good people at bespoke investment group went through all the companies that reported in this earnings period and they tallied up every one that ran a very tight gauntlet, not unlike the one that clint ran in arizona. the company had to beat wall street's earnings estimates, had to beat the revenue estimates and had to give the guidance that beat the expectations of the analysts. tall triple play order. and you'd better believe this was not a long list. and most of the companies i still didn't like. but any company that makes it on here, it's doing well. we looked at this group of companies that h
but they're being obscured by worries about the fiscal cliff. and that's why we're throwing our surprise party tonight here on "mad money" where i highlight companies that delivered upside surprises. but have been neglected, severely neglected. they've been overlooked. and they've actually seen their stocks go lower. and don't forget, i expect home depot, cisco, maybe even petsmart in a couple days to go lower because of how horrible this market is. the good people at bespoke...
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you talk about the greek fiscal cliff. we have our own and people here say we could be the next greece. how does that make you feel when you hear that kind of talk from american politicians, american business people, american citizens? >> extremely worrisome because you represent 25% of the global economy whereas greece, which wasn't the cause of the european crisis, only represents 2% of the european gdp. so if you guys were to actually have such deep problems, then it would mean problems for everyone globally and no one would want that. i'm sure that you'll be able to find the right solution by the end of december. >> let us hope. mr. michalos, thank you very much. sue? >>> thank you, ty. two big winners in that $587 million record powerball lottery. but how much do you really need to earn to make you happy? the answer may surprise you. >>> and before you fill up your tank with gas, listen up. aaa is warning regulators to stop sales of a certain type of fuel at the pump because it could damage your car and void your car
you talk about the greek fiscal cliff. we have our own and people here say we could be the next greece. how does that make you feel when you hear that kind of talk from american politicians, american business people, american citizens? >> extremely worrisome because you represent 25% of the global economy whereas greece, which wasn't the cause of the european crisis, only represents 2% of the european gdp. so if you guys were to actually have such deep problems, then it would mean...
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play the fiscal cliff at 5:00 . meanwhile, "mad money" with jim cramer starts right now. >>> i'm jim cramer, and welcome to my world. >> you need to get in the game. >> firms going to go out of business and he's nuts! they're nuts! they know nothing! >> i always like to say there's a bull market somewhere, and i promise -- >> "mad money." you can't afford to miss it. >> hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i just don't want you to lose money. my job is not just to entertain but to educate. so call me at 1-800-743-cnbc. [ ticking ] the clock, it is ticking. the time bomb looms. so perhaps it's time to figure out where all that money's going to go until the politicians rise above partisanship. and come up with a compromise before we go over the fiscal cliff. that's what i found myself thinking about while i watched the president's defiant press conference today. the only real takeaway is that we're nowhere near a deal. hence why the market nose dived. dow pl
play the fiscal cliff at 5:00 . meanwhile, "mad money" with jim cramer starts right now. >>> i'm jim cramer, and welcome to my world. >> you need to get in the game. >> firms going to go out of business and he's nuts! they're nuts! they know nothing! >> i always like to say there's a bull market somewhere, and i promise -- >> "mad money." you can't afford to miss it. >> hey, i'm cramer. welcome to "mad money." welcome to...
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she's fired up about the fiscal cliff. she says congress has to rise above -- she's wearing one of our pins, ty and simon. we'll talk to her about what the implications are if congress does not rise above. all of that straight ahead. >>> but first, i'll throw it down to simon hobbs down at the nyse. >> hi, sue. one of the immediate implications of course is the way in which the market is behaving. the dow is at a five-month low, the s&p 500 at a four-month low. we have just begun to cut some of our earlier losses within the last few seconds. we've regained 1.350 quite cover the comfortably. kenny, you are worried here now for the afternoon. why? >> i am worried. we were struggling to hold on to 1,350. you can feel it's testy. if the news coming out of the mideast gets any worse as we proceed through the day, i think you'll see investors taking money off the table as the situation develops. >> it goes on day after day. >> it does, except the situation now in the mideast is all of a sudden really elevated to the top between
she's fired up about the fiscal cliff. she says congress has to rise above -- she's wearing one of our pins, ty and simon. we'll talk to her about what the implications are if congress does not rise above. all of that straight ahead. >>> but first, i'll throw it down to simon hobbs down at the nyse. >> hi, sue. one of the immediate implications of course is the way in which the market is behaving. the dow is at a five-month low, the s&p 500 at a four-month low. we have just...
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. >>> up next, tick tock on the fiscal cliff. president obama and house speaker john boehner meeting at the white house just minutes from now. my thoughts on the talks, the fed, and that cliff hanger, right after this. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they ji
. >>> up next, tick tock on the fiscal cliff. president obama and house speaker john boehner meeting at the white house just minutes from now. my thoughts on the talks, the fed, and that cliff hanger, right after this. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and...
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>> this week in the fiscal cliff. >> it's because of the fiscal cliff. >> going off the fiscal cliff. >> fiscal cliff. >> looming cliff. looming cliff, one of my favorites. >> you've been watching this week in the fiscal cliff. >> it's a surprise. that's why we are throwing our surprise party tonight. have i overdone this yet? fiscal cliff. we're having a birthday cake, surprise cake. it's one of those that has ice cream. cvs barely budged the day it reported. almost like someone took a knife and stuck it into the outside surprise party. talk about a party pooper. what are these titanium balloons? inappropriate balloon moment there. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade.
>> this week in the fiscal cliff. >> it's because of the fiscal cliff. >> going off the fiscal cliff. >> fiscal cliff. >> looming cliff. looming cliff, one of my favorites. >> you've been watching this week in the fiscal cliff. >> it's a surprise. that's why we are throwing our surprise party tonight. have i overdone this yet? fiscal cliff. we're having a birthday cake, surprise cake. it's one of those that has ice cream. cvs barely budged the day it...
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can they get it together and fix the fiscal cliff? plus, the latest on sandy's recovery and the coming storm and all the stock news you need to know. yes, mandy there is stock news today. >> indeed there is. well, let's get to the markets, the dow is on track for a second day in the sun today and if the dow's gain exceeds 136 points at the close it is doing that right now, by the way, it will be the dow's biggest point gain since september 13th. as for the s & p 500 now up for the fourth time in five day none of the major averages have had winning streaks as long as three days in about three weeks. by the way, the s & p 500 rallied 67% since president obama took office. take a look at the nasdaq, also higher, on the last election day, november 4, 2008 you can the nasdaq gaped 3.1%. the dow, 3.3% and the s & p, 4.1%. get down to bob pisani you the floor of the new york stock exchange. bob what are the markets telling us about what is happening with the election? >> i see a classic risk-on trade that doesn't necessarily favor either can
can they get it together and fix the fiscal cliff? plus, the latest on sandy's recovery and the coming storm and all the stock news you need to know. yes, mandy there is stock news today. >> indeed there is. well, let's get to the markets, the dow is on track for a second day in the sun today and if the dow's gain exceeds 136 points at the close it is doing that right now, by the way, it will be the dow's biggest point gain since september 13th. as for the s & p 500 now up for the...
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the road and push the fiscal cliff off. just like last august with the debt ceiling, it's going to get messy. i think we're going to be in a period of volatility. >> are we kidding ourself when is we say that europe is a big part of this decline because of the debt crisis? are we ignoring the fiscal cliff to some degree? >> i don't think we're ignoring it now. i think we were ignoring it for a good, long time. i'm not an optimist, but i'm a realist. i do believe there will be some sort of resolution. the fact is, these are real concerns. the market needs a good gut-wrenching down right now. >> we're getting it right now. down 100 points on the industrial average. so now we are setting lows for the session. now the s&p is below its 200-day moving average, which was at 1380 and change. you think we continue this tomorrow? we have one more day to go this week. >> if i'm somebody looking to get in, i'm looking at my portfolio. i'm looking at the dogs i've got. i'm thinking about maybe, you know, starting to get a little bit of
the road and push the fiscal cliff off. just like last august with the debt ceiling, it's going to get messy. i think we're going to be in a period of volatility. >> are we kidding ourself when is we say that europe is a big part of this decline because of the debt crisis? are we ignoring the fiscal cliff to some degree? >> i don't think we're ignoring it now. i think we were ignoring it for a good, long time. i'm not an optimist, but i'm a realist. i do believe there will be some...
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that's not even part of the fiscal cliff. that's in addition to the fiscal cliff. we're looking at an avalanche of regulations that were drawn up in the first four years of the obama administration, but then conveniently only beginning to be made public after the president's job was secure. his job is secure. now yours may not be, because hundreds of billions of dollars in regulatory costs are hitting the economy. look at what epa and others are doing. >> right. but grover, speaking of magicianship, you appear to be doing that right now. it looks like rates will increase. that technically is not a good thing for you and your pledge. >> it's a very bad thing for the economy, because what they're talking about is some -- allowing the rates to go back up, not just back up. remember, we go back -- the bush tax cuts disappear and you add the obama care tax increases. so they're taking the top rate not to 39.6, but to 43.4 for half of all small business income in the country. and people at high income earners of the united states. add to that the 35% corporate income tax
that's not even part of the fiscal cliff. that's in addition to the fiscal cliff. we're looking at an avalanche of regulations that were drawn up in the first four years of the obama administration, but then conveniently only beginning to be made public after the president's job was secure. his job is secure. now yours may not be, because hundreds of billions of dollars in regulatory costs are hitting the economy. look at what epa and others are doing. >> right. but grover, speaking of...
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all fiscal cliff related or what? fz fiscal cliff relate end again, bernanke, not
all fiscal cliff related or what? fz fiscal cliff relate end again, bernanke, not
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we're asking for solutions to the fiscal cliff. joining me now is alan greenspan, former federal reserve chairman and now with greenspan associates. nice to have you back on the program. >> nice to be here. >> thanks so much for joining us. you have said there's no painless solution to the fiscal cliff here. what do you think the best possible outcome could be? >> the best possible outcome as far as i can see is to take something like simpso/bowles that came out originally and get the issue resolved. i've never seen anything like this. >> you've been around a long time and seen lots of parties fight. >> they always come to go. the difference now is that -- not that there are more differences than unusual. if you go back, there's a lot of data that suggests this is not unusual. what is unusual is the republicans don't speak to the democrats and vice versa? back then, i mean, not that far. >> they went to dipper and went to lunch and discussed issues. >> when i was in the white house, tip o'neill and jerry ford used to be at each oth
we're asking for solutions to the fiscal cliff. joining me now is alan greenspan, former federal reserve chairman and now with greenspan associates. nice to have you back on the program. >> nice to be here. >> thanks so much for joining us. you have said there's no painless solution to the fiscal cliff here. what do you think the best possible outcome could be? >> the best possible outcome as far as i can see is to take something like simpso/bowles that came out originally and...
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goes over the fiscal cliff. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> now, a new reuters poll shows americans blame republicans more than democrats or president obama for the fiscal crisis. and when asked who they held more response, 27% said the gop, 6% pointed to the dems and 30% said all of the above. for more on this, we're joined by christian schultz from barronberg bank. welcome. so we're going over the fiscal cliff. >> well, the consumer confidenc already be over the cliff in terms of confidence already. that might already be the firs
goes over the fiscal cliff. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we find ourselves at the edge of the...
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everyone assumes the fiscal cliff negotiations are done for the moment. suppose the newfound bears conventional wisdom is wrong. suppose if we don't go over the fiscal cliff or at the very least we get resolved with minimum destruction as i talked about at the top of the show. my super bowl see you in new orleans solution. i'm not saying this will happen. i'm saying this positive scenario is very much on the table. it has to be considered. and in that rosy okay things are all right scenario, good things could happen to our stock market in 2013. let's say you're an optimist that believes the fiscal cliff will be resolved and they rise above. what's the best way to play a fabulous bull market that some think could be unleashed? simple. assuming that everything goes right, the best proxy for the market in 2013 is the blackstone group. the big publicly traded asset firm. why blackstone? a company that i wasn't keen on. the company earns money investing other people's money. private equity funds. at the moment the company has $205 billion in assets under manag
everyone assumes the fiscal cliff negotiations are done for the moment. suppose the newfound bears conventional wisdom is wrong. suppose if we don't go over the fiscal cliff or at the very least we get resolved with minimum destruction as i talked about at the top of the show. my super bowl see you in new orleans solution. i'm not saying this will happen. i'm saying this positive scenario is very much on the table. it has to be considered. and in that rosy okay things are all right scenario,...
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. >>> the fiscal cliff defined. on january 1st, a series of tax cuts expire, meaning your taxes go up. massive amounts of government spending will be frozen. that could mean hundreds of thousands of job cuts, some say it will drive united states of america back into recession. >> 700,000 jobs would be destroyed. >> i'm not going to ask students and seniors and middle class families to pay down the entire deficit. >> we have 47 days for washington to work out a deal. this is a special edition of "power lunch" -- "rise above." as we await president obama's news conference 30 minutes away. >>> that is a live picture of the white house, everyone. the president's news conference begins in 30 minutes from now. we will count you down every step of the way. fiscal cliff will obviously be one of the top topics this hour. brian sullivan, eamon javers, john harwood is working his way into the white house right now for that news conference. they are all gathered with me. brian, we're going to begin with you. >> this is a big da
. >>> the fiscal cliff defined. on january 1st, a series of tax cuts expire, meaning your taxes go up. massive amounts of government spending will be frozen. that could mean hundreds of thousands of job cuts, some say it will drive united states of america back into recession. >> 700,000 jobs would be destroyed. >> i'm not going to ask students and seniors and middle class families to pay down the entire deficit. >> we have 47 days for washington to work out a deal....
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>> i contends the fiscal cliff will come to an agreement. it will be temporary in nature, kind of a year type of plan. i think the market has digested a bit that tax rates will go up. it's just a matter of how much spending are we going to cut to make this a market between the democrats and republicans. >> does monetary policy hurt or help the banks? keeping rates as low as they are, it's tough to make a buck the traditional way of lending and spending, right? >> i'm going to be a two-armed economist because i can't said on the other hand. there's two things that are very important. first of all, credit in commercial real estate is phenomenal. cap rates are really low. so the fact that rates are as low as they are has allowed commercial real estate not to fall into the abyss. if commercial real estate had to refi at high rates, we would have had another problem. the other problem is the fact margins are getting squeezed at these banks. credit quality is better. >> that's where the money comes from. >> yeah, fees. by the way, you can eat thes
>> i contends the fiscal cliff will come to an agreement. it will be temporary in nature, kind of a year type of plan. i think the market has digested a bit that tax rates will go up. it's just a matter of how much spending are we going to cut to make this a market between the democrats and republicans. >> does monetary policy hurt or help the banks? keeping rates as low as they are, it's tough to make a buck the traditional way of lending and spending, right? >> i'm going to...
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the fiscal cliff, the deadline, and what it means. we'll look ahead, we'll look back, our all-star panel on the big news that hasn't happened yet. the preview of the big stories and trends for 2013. and then we will hit the highlight reel. my interviews with the most important, influential and interesting people of the past year. "the wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now, maria bartiromo. >> all that ahead, but first, here's phil griffith with the look at the stories making headlines this week. >> thanks, maria. here's what's making news as we are heading into a new week and new year on wall street. congress is working the weekend, attempting to avert some part of that $6 billion in automatic tax increases and the spending cuts that are set to kick in on january 1st. that fiscal cliff and its potential impact on our economy brought lawmakers from both houses to washington for last-minute negotiations. concerns about the cliff spooked
the fiscal cliff, the deadline, and what it means. we'll look ahead, we'll look back, our all-star panel on the big news that hasn't happened yet. the preview of the big stories and trends for 2013. and then we will hit the highlight reel. my interviews with the most important, influential and interesting people of the past year. "the wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report."...
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Nov 7, 2012
11/12
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the fiscal cliff and itself? if we can't figure out something between now and then, then we go to -- >> sequestration wasn't enough. >> neither side wants simpson/bowles deep down. hep doesn't want it and neither does -- >> the impediment to implementing mark's plan is a complete no on raising revenue. mark's for raising revenue. if the republicans agree to raise revenue, the president -- >> you've given a complete no going 28% on the marginal rate. >> would you go to 28% if it raised revenue? if we got rid of the deductions and average effective tax rate goes up? >> well, depends on what the distribution of that is. >> no different than it is today. >> well, if it's no different than it is today. >> yep. >> i'd probably be for that. but as i think we learned when romney put his plan on the table, that's not what happens. you can't get to 28% -- >> yeah, but romney didn't endorse simpson/bowles. >> but, joe, it's not just taxes. what is obama willing -- what is obama willing to do on entitlement reform? >> i agre
the fiscal cliff and itself? if we can't figure out something between now and then, then we go to -- >> sequestration wasn't enough. >> neither side wants simpson/bowles deep down. hep doesn't want it and neither does -- >> the impediment to implementing mark's plan is a complete no on raising revenue. mark's for raising revenue. if the republicans agree to raise revenue, the president -- >> you've given a complete no going 28% on the marginal rate. >> would you go...
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Nov 29, 2012
11/12
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are they worried that if indeed we get close to the fiscal cliff or we go over the fiscal cliff that that will affect their businesses? >> well, for us, we primarily focus on working with small, medium size businesses. fiscal cliffs and politics don't come up much in our conversations. we focus on creating customer unique rewards. i think businesses know from a consumer standpoint, it's greater than 90% are disposable income is spent within a couple of miles of your home. focusing on local, helping businesses retain customers an drive frequency in their local markets can really help drive through any potential impact of a fiscal cliff. >> jeff, what are you hearing in the valley about the fiscal cliff, how concerned are the other people that you talk to, the inknow vnovators out there, are millionaires, billionaires and many of whom are trying to start new businesses in the valley. >> you know, the perception is more about -- the talk is more about the potential impact on business and allowing -- not taking action to address this issue and letting it expire is bad for business. every
are they worried that if indeed we get close to the fiscal cliff or we go over the fiscal cliff that that will affect their businesses? >> well, for us, we primarily focus on working with small, medium size businesses. fiscal cliffs and politics don't come up much in our conversations. we focus on creating customer unique rewards. i think businesses know from a consumer standpoint, it's greater than 90% are disposable income is spent within a couple of miles of your home. focusing on...
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Dec 28, 2012
12/12
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dairy farmers and wynn farms facing their own fiscal cliffs in addition to the actual fiscal cliff. whatever cliff are you worried about? tweet us at "squawk on the street." we'll have your responses next. . time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. [ male announcer ] th
dairy farmers and wynn farms facing their own fiscal cliffs in addition to the actual fiscal cliff. whatever cliff are you worried about? tweet us at "squawk on the street." we'll have your responses next. . time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your...
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Nov 30, 2012
11/12
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fiscal cliff is everywhere. thank you so much. brian shactman. >>> it is not a doung grade to a specific company but downgrade to the european stability mechanism. what is that? that is this big body through which europe borrows bonds. you can see it trading down against the dollar. it means it is more expensive for europe to borrow. not what we need right now. >>> up next, is the u.s. turning to france? a french minister says the u.s. is franchising industry. [ male announcer ] trading's like a high-speed train. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track. thinkorswim by td ameritrade. trade commission free for 60 days, plus get up to $600 when you open an account. plus get up to $600 if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they
fiscal cliff is everywhere. thank you so much. brian shactman. >>> it is not a doung grade to a specific company but downgrade to the european stability mechanism. what is that? that is this big body through which europe borrows bonds. you can see it trading down against the dollar. it means it is more expensive for europe to borrow. not what we need right now. >>> up next, is the u.s. turning to france? a french minister says the u.s. is franchising industry. [ male announcer...
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Nov 19, 2012
11/12
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we call this fiscal cliff investing. bertha coombs joins us with the potential winners and losers in how investors can play all this with a fiscal cliff portfolio. >> and they've been doing it already. if the president and congress fail to reach a deal on the fiscal cliff the expectation is that stocks will be the big loser. defense stocks in particular with a prospect of massive budget cuts starting january 1st. now, they've been hard hit since the election, turning around a bit today. cnbc looked at a portfolio of etfs that correlate with the moves in the market on the fear of hitting fiscal cliffs in particular sectors, including etfs that short stocks, negative bets on the market, like the ultrashort s&p eft. down all year, its been a gainer since the election. consumer shorts, technologies, financials have been gainers since the election, until today. with more conciliatory talk coming from the white house and congressional leaders over the weekend, investors are showing more optimism maybe we will avoid the cliff.
we call this fiscal cliff investing. bertha coombs joins us with the potential winners and losers in how investors can play all this with a fiscal cliff portfolio. >> and they've been doing it already. if the president and congress fail to reach a deal on the fiscal cliff the expectation is that stocks will be the big loser. defense stocks in particular with a prospect of massive budget cuts starting january 1st. now, they've been hard hit since the election, turning around a bit today....
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Nov 7, 2012
11/12
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europe or the fiscal cliff? >> i actually think -- i think it would be the fiscal cliff but i have to tell you, if europe starts to implode and look what they're doing in greece today, if that movement starts to move to spain and the other countries that's going to steal the headlines. >> i think those pictures as well. even if we don't get headlines out of greece. when you see those kinds of pictures, it brings it all back home. >> it brings it all back home. then people are concerned that it gets out of control. then it starts to go to spain. starts to go to the other countries. then does it in fact come to our shores? if we go over the fiscal cliff. >> i'll see you a little later in the show. >>> phil lebeau joins us now. he's got more on the late breaking news on boeing for us. what do you got, phil? >> sue, boeing is just announcing that it is doing what essentially is -- what they're saying is not a major restructuring but is nonetheless a further restriction and movement and consolidation of mid level exe
europe or the fiscal cliff? >> i actually think -- i think it would be the fiscal cliff but i have to tell you, if europe starts to implode and look what they're doing in greece today, if that movement starts to move to spain and the other countries that's going to steal the headlines. >> i think those pictures as well. even if we don't get headlines out of greece. when you see those kinds of pictures, it brings it all back home. >> it brings it all back home. then people are...